NIC Bank Writes Back Rs 258 Million

May 8: NIC Bank has been able to recover Rs 258 million bad debt of previous FY till the third quarter of current FY. Similarly, net profit of the bank has increased by 32.15 percent to Rs 759.5 million. Increase in operating profit and net interest income has increased by 21.63 percent and 12.61 percent  along with recovery of bad debt s has attributed in increase of net profit.

The bank has maintained balance of Rs 204.2 million in its provision for possible losses. Likewise, the bank has CD ratio of 77 percent. Meanwhile, the foreign exchange income of the bank has increased by 34 percent to Rs 125.6 million.